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Top 5 Ways to Make Money Online

One of the most explosive trends in the last 20 years is making money online. There are, to be sure, many different ways to do it.  Websites, landing pages, blogging, affiliate sales, making and selling stuff and the list goes on. We have compiled a list of what we believe are the Top 5 ways to make money online although your actual mileage may vary.  Remember that there are internet millionaires being born practically every week and, even if you don’t make a mint, working online does have its perks.  Enjoy!

Affiliate marketing is one of the best ways to make a living online and indeed many people are affiliate marketers today.  Basically an affiliate marketer woks independently promoting products or services for other companies and, when these companies make a sale due to their work, they get a cut of the profit.  Amazon is a great example of this and maybe one of the best.  Literally millions of people are affiliate marketers for Amazon and promote their products through websites, blogs and landing pages.

Blogging is a very popular way to make money online today and requires nothing more than a Blog website (WordPress and Blogger are 2 of the best) and the expertise and knowledge to be able to attract people to what you have to say.  Of course that’s the key too; if you have that knowledge and expertise it’s easier to Blog than if you don’t.  Also, you may have the expertise but can’t write worth a darn. But if you do have something that you can share with people (a LOT of people would be good) then Blogging can be an excellent way to make an online living.

Then of course there’s eBay, still one of the best ways to sell just about anything you can think of online.  If you make your own widgets you can sell them on eBay, or you can buy stuff and then sell it.  Many people go to garage sales and estate sales and buy things cheaply and then turn around and sell them on eBay, and some make quite a good living doing it.  There are also ways to sell new stuff on eBay and have a drop-shipping company do all the leg-work for you.

Freelance writing online is a great way to earn money and in fact is what this writer does.  You of course would need experience in something (I have experience in about a dozen topics and fields) and would need to be able to write well. If you can do that freelance writing work may be the way to go.

Finally there’s designing and selling your own T-Shirt designs.  Many people love T-Shirts and there’s a huge market for interesting, funny and intelligent designs (as well as crass, crude and just plain stupid).  If you are a bit of an artist or have a knack for witty sayings and slogans this may be a great way for you to make a living.  Check out CafePress and SpreadShirt to get ideas of what’s out there and go sell your shirts.

 

Tips on Sticking with Your Budget

There are times when major expenses cannot be avoided. You may want to reward yourself with a new car, go on a vacation or buy a bigger house. Your first impulse might be to take out a loan to pay for this; but, it that the wise thing to do? If you have developed the habit of monitoring how much money you make monthly and how much you spend on your expenses, you will know much you can put aside for future expenses.

At the end of the day, creating a budget and sticking to it is the best way to manage your finances. It may not be easy sticking to it but once you have developed the discipline, you will appreciate the freedom it will give you from borrowing money every time a major expense comes along.

Here are a few tips that can help to stick to your budget:

  1. Prioritize Savings – Determine how much of your take home pay you want to put into your savings account. Once you have chosen that figure, try your best to stick to it. Say it’s 30%. Once you get your pay check, take away the 30% and deposit it in your savings account. What you have left is your budget for your expenses and you must try your best to live within that.

 

  1. Use your credit card wisely – When you go out for shopping, remember that using your credit card does not give you the license to go berserk in buying. Remember that you will be billed for every purchase you make and will be charged with interest should you fail to pay on time. Using the credit card has its advantage. It saves you from carrying actual cash plus you earn rewards as you use them. A wise tip in credit card use is this – do not spend on something you don’t have money for at that moment. Do not treat it as a loan that you can pay for “in the future”. Pay your credit card bill in full and not just the minimum amount due. That way you can avoid surcharges and other interests.

 

  1. Do away with bad habits – Smoking and drinking are not just bad habits, they are expensive ones as well. Cut them out and put your money to better use.

 

  1. Share the responsibility – If you are not the sole breadwinner, share the budgeting responsibility with others – your spouse, roommate or family members who are earning as well. If you see others being careless in their spending, chances are you would be too. If you all have your own responsibilities in keeping the budget, you would be each other’s check and balance.   

Next time you want to buy the latest gadget in the market, look into your personal financial statement and see if that expense can fit into your budget. Chances are it will if you know where to look.

The Basics Of Good Personal Finance Management

Personal finance isn’t simply about money. Indeed, basic logic and reason play large roles. Wisely managing your finances is a behavior that must be learned, often times, the hard way. Consider this advice and start to make positive changes to the way you handle your finances and you are going to discover that you are starting to lead a less stressful and happier life.

Generally avoiding debt can be the best way to be in control of your personal finances. Loans are unavoidable for the big purchases in your life, like autos and houses. But, in your everyday life, you should avoid paying with credit at all costs.

If the time isn’t right then do not sell. If you are making a good profit on your stocks, hold on to them for the time being. If certain stocks are doing poorly, decide if you want to sell them.

Be vigilant for mail from credit card companies that inform you about changes to your account. You have a legal right to be informed of changes 45 days in advance. Read the new terms of agreement and changes the company is going to make. This will help you decide if you wish to continue being their customer. If you do not like the changes, resolve to paying off the account and closing it.

Use cash or debit cards for small purchases. Don’t break out the credit card at every opportunity. Credit card companies have minimums on purchases nowadays, so to avoid that, make sure to carry a debit card and cash on you.

If you can, try putting some cash in your IRA, or Individual Retirement Account. Doing so will allow you to build your future finances. Those interested can open up IRAs with a brokerage firm, mutual fund company, bank, or credit union. Regularly contributing to your IRA will allow you to enjoy a financially secure retirement.

Paying your bills early each month will make keeping your finances in order fairly simple. If you pay bills early, you will then know how much cash you will be left with. This will also give you peace of mind when an unexpected financial situation arises, as you will not need to worry about the imminent bills.

An ideal emergency fund should have at least the equivalent of what you make in three months. Put the first 10% of your paycheck in a savings account with a high yield.

The most effective method for avoiding debt is spending less money than you earn. You must cut back on your spending, save some money and pay off your loan and credit card debts. Go out to eat and part less to save some greenbacks. Another option is to pack a lunch for work instead of eating out. If restoring your credit is important to you, you will need to follow through and lower your overall spending.

It is in your best interest to keep track of important deadlines and dates for filing income taxes. If you are anticipating a refund, then file as soon as possible. It’s better to file closer to the due date of April 15 if you owe money to the government.

Personal finance varies with each different individual, so it is up to you to know how to manage the finances in your own home. Hopefully, you’re now well-equipped in better managing your finances and you can use the knowledge that you’ve learned here. Post reminders of the things you’ve learned in your home, wallet or desk. The faster you put these tips to good use, the sooner you can enjoy the results!

Some Myths on Personal Finance

The best way to increase your financial stability is by doing a thorough evaluation of your savings and spending. This way you will be able to find out how you may save on your existing earning so that you may have better funding in your account. Here, are some of the common myths that you get to learn along with the rational basis or even lack of it in them.

Myth 1# Investing in stocks and mutual funds is truly necessary

Most people will inform you to invest in stocks and mutual funds. However, if you have to invest do so after appropriate assessment of your financial position. Every other person may feel a different way to invest, and there is no reason why one must only invest in mutual funds or stocks. One can make steady interests from saving accounts also by maintaining a stable balance.

Myth 2# Investing in property is better than taking on lees

Another popular myth that is passed on from one to another is that it is better buying a property instead of renting one. Often there are many cases where it is more advantageous to buy a house, but in case you are not particularly keen on your credit do not try to buy a house. The equated monthly instalments will be substantially higher than what you may actually spend on renting the same property. Again, you may obtain interests if you had invested the same amount in your account in some other place.

Myth 3# Closing credit card accounts will save money

Closing credit card accounts is yet another factor that you may do, but think about stuff like paying off the dues in regular intervals instead of in one shot. You can choose not to use your credit card instead of closing your credit card account. Moreover, you can use the card in emergency and this way you will learn to use the credit card judiciously.  

Myth 4# You cannot get a loan if you have poor credit or debit details

This is an absolute myth, and there is actually no rational reasoning in it. There are loans that are specifically made for people with poor scores. Many people take personal loans to reduce the burden of finance. This helps the person to remove personal debts and pay against only one loan.

Myth 5: I am too young or too old for retire plans

Most people ignore their retirement plans because they think they are too young, but youth is the best time to take a retirement policy.

This is the time to take action now, and if needed you can take the help of your financial adviser.

Creating a Lifestyle Business

Did you know it doesn’t take a million bucks to live like you have a million bucks? That’s what Sean Ogle writes over at GetRichSlowly. So why don’t more people live like millionaires?

It isn’t the money, the job, or one’s personal situation that keeps people from living a more exciting life. It’s the fear of making a change.

Ah,yes, the “C” word. More like the battle of the “C” words—we’re too comfortable to make change. To his credit, he’s not talking about living beyond your means or racking up a mass of debt. He’s referring to the one thing people who have more money typically have…time. He did that by purposely moving to a low cost of living place and building a lifestyle business.

Creating a lifestyle business was one of the best decisions I could have made in order to bring about the change I was looking for. This was a core component in my ability to free up time and live like a millionaire.

The best part about creating a lifestyle biz?

You don’t need a million dollar idea — you just have to be able to improve upon one that’s already out there.

What can you improve upon that’s already in the marketplace? It could be the way something is delivered. Customer service is so shoddy that taking care of each customer could be a differentiator.

Visit Sean Ogle and GetRichSlowly for more inspiration.

Can You Guess the 7 Highest Paying Jobs?

The job market has been incredibly scary the last few years. When I read the news headlines, it’s hard to find any good news about a job recovery. I suppose it’s a combination of news outlets competing for eyeballs and the growing sense that things are much different this time.

In that sense, I try to highlight positive aspects about earning and spending for individuals as I cull the interwebs for interesting, entertaining, and enlightening stories.

Known for it’s annual “Best Places to Live” comparison, in conjunction with Money Magazine, the researchers at CNN.com put together other “Top” stories throughout the year.
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Grab Your Wealth

We live in precarious times when as it relates to our incomes, investments, and—ultimately—our livelihoods. So, how do we make sure our wealth, now and in the future, doesn’t slip through our hands?

We must first acknowledge that our wealth is our responsibility. Once we take responsibility, then we must go out and seize it.
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Need More Money? Why Not Start a Business?

Talk surrounding the “I don’t make enought money” phrase is usually about getting a part-time job. Though many people do start a side gig to make more money, make ends meet, or start a new career, most people typically shy away from small business ownership.

When I’ve suggested the same idea to friends, I’m quickly brushed aside. They stare downward while tapping their foot. Why is part-time work noble but the thought of starting a side hustle…taboo?

The Financial Blogger thinks it’s a matter of overcoming your money fears. Having a job is…easy. I work. I get paid. That doesn’t translate too well into the self-employment world. Because sometimes effort does not equate to earning—at least not in the short term.

But there are ways to help make that connection. The object isn’t to quit your job one day and start your business the next. The idea is to start slow.

Moonlight. From all of the books that I’ve read on entrepreneurship, it seems that the authors always started off on the side. This is probably the last thing you want to hear, but if you want to be successful and safe, you’re going to have to lose some sleep to get your side gig off the ground.

He’s right. People don’t want to think they might have to work and build up to something. It doesn’t fit the American culture (even though most millionaires started this way).  Give it to me now we exclaim. We don’t want to wait.

As I’ve grown older, and wiser hopefully, I sense the need to slow down and do things right. If you do things right, the results will take care of themselves. I strongly believe that if you want to make the entrepreneurial leap, and your job is stable, then you absolutely must start part-time.

That means you’ll have to build your cash reserves. Funding your business as it grows from a crawl to a walk.

Save up. This sort of ties in with moonlighting and multiple incomes. You can slowly build up a savings buffer so that you can have your expenses 100% covered in the event that your business venture doesn’t earn you enough money.

I remember the first time I made a few bucks online. I was ecstatic. I remember laying in bed the night I made $20 in a single day. My giddiness wouldn’t let me sleep. Or at least I didn’t let it.

There’s no reason to be afraid of starting a business. Especially if you’re not worried about paying the bills because your current job is sufficient. Moving slow and learning the ropes as you go is actually a good thing. Don’t let the lack of immediate results deter you.

Read more at The Financial Blogger.

Choosing a Career

A nice, short video by Jack Canfield on how to choose a career. The bottom line – no decision is forever. You can change your career anytime.

How to Blow $70,000 in 8 Months

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I don’t think anyone ever intends to torpedo their finances. Nobody wakes up one day and says, “yeah, I think today I’ll flush everything I’ve worked on the last 10 years down the toilet.”

But do the reasons matter after it’s already happened? At some point I became comfortable with the fact (at least on a superficial level) I was becoming nauseatingly deeper in debt. Debt that would have made me revolt with sickness just a few years prior.

Surprisingly, I don’t have expensive addictions. No gambling. No drinking. Zip on Golfing. And I still own the first car I ever bought (going on 14 years). What gives? How could an otherwise sane individual, an individual who avoided any debt for the first ten years out of college, rack up nearly $70,000 in debt in a matter of 8 months? Rather easily actually.
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